Mut. Benefit's A.M. Best rating drops one notch.

National Underwriter Life & Health-Financial Services Edition, July, 1991 by Crosson, Cynthia

Mut. Benefit's A. M. Best Rating Drops One Notch

A.M. Best has downgraded Newark, N.J.-based Mutual Benefit Life Ins. Co. to "contingent A" from an A , citing "the magnitude of investment losses from its mortgage and equity real estate portfolios and the adverse impact this has had on statutory earnings and surplus."

The "contingent" aspect of the rating reflects "uncertainties surrounding the timing and ultimate success of the company's repositioning plan and capital raising effort," according to a Best release.

Despite the downgrade, Mutual Benefit is upbeat about its long-term prospects. "Best's A rating is defined as excellent," said company spokesperson Mary Ann Green. "By definition, it affirms our essential strength. The contingent...

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